More Job Cuts Scheduled at Pfizer?
According to apost at Pharmalot, rumor has it that Pfizer will lay off a number of chemists at its main R&D facility in Groton, Connecticut as early as next Fall The rumor supposedly began at an R&D blog run by a former Pfizer employee (always a reliable source for inside information).
M y colleague Ed Silverman who runs Pharmalot contacted Pfizer about the rumor and received this response “A leading R&D organization must evolve, continue to build on its strengths, capture competitive advantage wherever possible and be realistic about what it will take to return Pfizer to growth. What I can assure you is that if and when there are organizational changes, those decisions are never taken lightly. Our guiding principle is that colleagues hear about important Pfizer news from company leadership first and are treated with the utmost respect.” In other words, Pfizer will likely be laying off more employees in the very near future.
Hat tip to Ed!
Until next time…
Good Luck, Good Job Hunting and Happy 4th of July!!!!!
I have learned to that Pfizer will be laying off all 30,000 Contractors as of 12.31.08. All will be offered permanant positions at below market rate!
Pfizer, Inc. Stockholder Proposal
Edward Rudy and Edith Rudy, 21205 Yacht Club Drive, Aventura, FL 33180, who are the holders of 7,000 shares of Pfizer, Inc., common stock advise the corporation that they intend to present the following proposal at the Annual Meeting of Stockholders:
"RESOLVED: That the stockholders of Pfizer, Inc,. assembled in annual meeting and by proxy, hereby request that the Board of Directors take the steps necessary to provide for an immediate reduction in stipends, fees, salaries, stock options, and/or other remuneration being paid to members of the Board of Directors, including Pfizer officers and executives who also serve as directors, to the exact percentage reduction which has been approved by the Board of Directors for dividends payable to the shareholders of the corporation and, furthermore, said reduction shall not be restored or payments to all Pfizer directors increased except in the exact same percentages as are approved for future increases in shareholder common stock dividends."
The following statement is submitted by Edward and Edith Rudy in support of the proposal:
SUPPORTING STATEMENT
Shareholders who are the owners of Pfizer, Inc., have been informed that they will be subjected to A dividend reduction of 50% by the Chairman of the Board, Jeffrey Kinder, and we believe that, if this drastic and unprecedented step is necessary, the Board of Directors should fully participate with the non-director shareholder owners in the trauma of this decision. It will require a 100% increase in the drastically reduced new dividend rate for restoration to its former level. We believe that the Board of Directors may look with favor upon restoring the dividend rate because, with the approval of this resolution, the directors will benefit equally with the shareholder owners.
If you agree, please mark your ballot in favor of this resolution; otherwise it is automatically cast in opposition to this shareholder proposal, unless you have indicated that you wish to abstain from voting on this proposal."